The value of exported goods from Iceland amounted to 86.5 bil lion ISK fob in July 2026 and the value of imported goods 127,1 billion ISK cif (120 billion ISK fob) according to preliminary figures. Thus, there was a trade deficit, calculated on fob/cif value, of 40.6 billion ISK as compared with a trade deficit of 44 billion ISK in July 2025 at current rates of exchange.
The trade balance in July 2026 was therefore 3.5 billion ISK more favourable than during the same period last year. For the last 12 months the deficit in balance of trade in goods was 441.9 billion ISK or 63 billion ISK more favourable than during the previous 12 months.
Value of exported goods decreased by 3.2 billion for the last 12 months
The value of exported goods in July 2026 was 14 billion ISK (19%) higher than in July 2025, increasing from 72.5 billion ISK to 86.5 billion ISK, mainly due to increased exports of manufacturing goods, in particular aluminium.
For the last 12 months, the total value of exported goods was 949.5 billion ISK or 3.2 billion ISK lower than during the previous 12 months or almost unchanged at current rates of exchange. Manufacturing products contributed 49% of the total exports, their value decreasing by 7% compared with the previous 12 months. Marine products contributed 40% of total exported goods and their value increased by 8% compared with the previous 12 months.
Value of imported goods decreased by 5% for the last 12 months
The value of imports of goods was 127.1 billion ISK in July 2026 compared with 116.5 billion ISK in July 2025. The increase was thus 10.6 billion ISK (9%). The increase was mainly due to the increased imports of capital goods.
For the last 12 months, the total value of imports of goods was 1,391.4 billion ISK, decreased by 66.2 billion ISK (5%) compared with the previous 12 months at current rates of exchange. For larger categories, the largest decrease was in the value of industrial supplies and investment goods but there was also decrease in the import of transport equipment and fuels and lubricants. The largest increase was in the import of consumer goods and food and beverages.
The average value of the exchange rate index for the 12 months period was 185.6, stronger by 2.8% from the previous 12 months the year before. The exchange rate became weaker by 2.1% in July 2026 (185.8) compared with July 2025 (181.9).
This press release includes preliminary data of June 2026 which might change.
Along with the preliminary figures for July, the final figures for June are published. Deviation from the preliminary figures can mostly be attributed to increased imports of fuels.